Crypto Czar says Biden's 'bad' Bitcoin policy cost tax payers $17 billion

Tech investor and Crypto Czar David Sacks has called into question the U.S. government’s handling of confiscated Bitcoin, asserting that “bad long-term strategy” has led to taxpayers losing out to the tune of billions.

David Sacks wrote on X (formerly Twitter) on March 6 that in the past decade, the federal government sold about 195,000 Bitcoin for a total of $366 million. “If the government had held Bitcoin, it would be worth over $17 billion today. That’s how much it has cost American taxpayers not to have a long-term strategy,” Sacks posted on X.

Seized Bitcoin assets could have liberated taxpayers’ burden
Much of the Bitcoin that the U.S government has been selling appears to involve law enforcement seizures, including those related to Silk Road and other criminal activity.